S&P 500 Faces Key Resistance Ahead of Fed Rate Cut Decision

I don't usually cover US stocks on this platform, but for those following the S&P 500, it had a strong rally over the past few days. However, it’s now facing resistance around $5,650, just shy of the all-time high set back on July 16, 2024. Despite the recent run-up, it couldn’t quite reach the resistance line, and everything now depends on how the market reacts to the Fed's rate cuts on Wednesday.

If the Fed cuts rates by 0.5%, we might see a solid push upward. However, with a 0.25% cut, here are the support levels on the downside. Remember, the market can move either way this is just my take. If you have questions, leave them below, and don’t forget to hit that like button!